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Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
 In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up during the first two days of this week, ending yesterday’s session up by 244 points to 4,187. This is very close to the all-time highs of the BDI, since the financial crisis struck the global economy and triggered a crash of the BDI to just 661 points by early December of 2008.
The most impressive rise was noted in the leading cape size market segment, where just yesterday, the BCI (Baltic Capsize Index) shot up by an impressive 637 points to surpass the 5,000 point mark (5,262). On the opposite end, rates for all smaller ship sizes were down yesterday.
In a relative report, Commodore Research & Consultancy, said that “going forward, declining steel and iron ore prices are still a cause for concern and we still remain cautious that dry bulk freight rates will continue to come under pressure in the immediate future. It is encouraging, however, that iron ore stockpiles at Chinese ports have decreased and spot chartering activity increased at the end of the week. Congestion is also high and it is encouraging that global steel production set a new record in April and so far remains firm. Global steel output normally remains robust during the Northern Hemisphere summer and we continue to anticipate a rebound in dry bulk cargo demand in the upcoming months”.
It went on to add that slowly improving conditions in southwest China have allowed hydropower production to increase, which reduces the need for thermal coal, but Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. “In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from australia and Brazil which will lend additional support to Cape size freight rates.
A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm. The Chinese housing market and real steel consumption must continue to be closely monitored. It seems unlikely that steel and iron ore demand will suffer a sustained decline but spot prices and vessel fixtures must continue to be monitored closely” said Commodore.
Meanwhile, according to the latest official data, China produced 88.1 million tons of iron ore in April, an increase of 8.34mt (10%) from 79.7mt produced in March. Chinese iron ore production usually increases in the same months when China imports a large amount of ore - China imported 55.3mt of ore last month, about 2.7mt (5%) more than this year's monthly average of 52.6mt. Robust ore production in China is likely to continue - but May production may decrease as Chinese ore demand has come under pressure. China will continue to import large amounts of ore, however, as demand is expected to remain firm and domestic ore is of low quality.
In another bullish move for the market, surprise reports emerged for new building orders from both Rio Tinto and BHP Billiton. According to the latest weekly report by shipbroker Barry Rogliano Salles (BRS), Rio Tinto was said to have placed a US$ 500m order at Hanjin for eight 205,000 dwt vessels. Meanwhile BHP is reportedly set to give 10-year charter backing to six vessels of the same size to be ordered by Fortis bank at Hyundai (at a cost of US$ 66-US$ 67m each). “Although we have seen Vale busy in the market, this is the first apparent new building move from the other two mining groups, a strategy in line with the shift towards more CIF-based selling.
While Rio picked up several second hand vessels last year, prices have risen since then, increasing interest in new builds. The US$ 62.5m price tag quoted for Rio’s large Capes is similar to the current Baltic price for a 5-year-old 170,000 dwt Cape. If confirmed, the BHP contract would represent the first ‘Newcastlemax’ tonnage of around 200,000 dwt built by the yard since the early nineties” said the broker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
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